U.S. stock indexes closed lower Tuesday, giving up gains earlier in the session after a better-than-feared inflation reading and falling back into their September doldrums.
The Dow Jones Industrials tumbled 292.06 points to 34,577.57.
The S&P 500 shed 25.68 points to 4,443.05.
The NASDAQ Composite lost 67.82 points, to 15,037.76.
Stocks popped at the open after the August consumer price index, while still showing a significant jump in inflation, came in less than expected. However, the stock averages turned lower roughly half an hour into trading.
Shares linked to the economic recovery dropped. Bank of America lost 2.6%. General Electric took industrial shares into the red, closing 3.9% lower.
Apple shares closed nearly 1% lower after the company unveiled the new iPhone 13 at its annual fall product event, its stock movement in line with historical patterns.
Meanwhile, investors crowded into some of their favorite tech bastions with Microsoft ending … Read more